Economy & Business, Volume 15, 2021

Abstract: One of the significant and sensitive issues in the economic area affected by Brexit is foreign trade. In fact, the import and export shares in UK trade with the EU Member States exceed fifty percent of the overall bilateral trade and it has a significant impact over their economies. However, Brexit happened and the new trade relationship between the UK and the EU is on a different basis. The paper examines the overall EU-UK trade relationship in the recent twenty years. Based on the statistical data the trends are reviewed and analysed. The purpose of the paper is to present the general trends in trade and the impact of Brexit on the export and import flows of EU and UK. As the present agreement does not cover all the areas of interest, some challenges for the future bilateral trade are presented as well.